Hogs Post Losses Heading into the Weekend
Lean hog futures were 80 cents to $1.25 lower across the board on Friday, with October down $3.42 on the week. USDA’s national base hog price was $81.76 in the Friday PM report. The CME Lean Hog Index was down another 79 cents on September 14 at $85.02.
Managed money added back 7,845 contracts to a new record net short position in lean hog futures and options in the week of 9/15, taking it to 31,401 contracts.
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USDA’s pork carcass cutout value was back down 56 cents in the Friday afternoon report, at $86.98. The rib and belly were the only primals reported higher. Federally inspected hog slaughter for the week was estimated at 2.49 million head, including Saturday. That was 102,381 head below the same week last year.
Oct 26 Hogs closed at $78.100, down $0.800,
Dec 26 Hogs closed at $68.550, down $1.050
Feb 27 Hogs closed at $70.150, down $0.975,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
